The companies need a bank guarantee to submit a VAT refund request based on their financial performance in the first quarter of 2015.

“VTB
has worked with UralChem Group for many years. We are interested in further strengthening
our mutually advantageous relations, which promote the group’s growth and have
a positive effect on the Russian chemical industry as a whole,” said Yuri Soloviev, First Deputy President and Chairman of
VTB Bank Management Board.

For reference:

UralChem Groupis one of the largest mineral fertiliser producers in Russia, the CIS and Eastern Europe.

It is the largest ammonium nitrate producer in Russia and the second largest producer of ammonia and nitrogen fertilisers in the country.